Bourque Industries Inc (BORK)

[RockQQ]

The company is not $40 million in debt, not even close.

$40 million represents the 'accumulated deficit' (losses exceeding earnings) of the company since inception (including the GPGI years dating to 1978). 95% and maybe more of this $40 million occurred during the GPGI years. Consider that it has lost that $40 million over 35 years, or just over $1 million per year on average.

The company is not in debt for this amount, nor in debt for an amount anywhere close to it.

In fact, it has zero debt in the formal sense (formal bonds, formal bank indebtedness, etc.), the only thing it 'owes' are to vendors and employees, on the balance sheet it's called 'current liabilities' such as 'accounts payable', 'wages payable', etc. if you want an accurate figure.

Additionally, my sense is the company has a very low monthly cash burn, in the amount of $20,000 per month, give or take, to keep the lights and electricity on and the doors open and the phones working, etc.

So it doesn't take alot of new funds to at least keep the doors open indefinitely.